The EUR/GBP pair gapped lower at the open on Monday, and then fill that gap, only to turn back around and form a fairly negative candle. Ultimately, this
The EUR/GBP pair gapped lower at the open on Monday, and then fill that gap, only to turn back around and form a fairly negative candle. Ultimately, this market looks as if it is going to test the 0.70 level, and perhaps even break down below there. However, it’s not until we clear the 0.70 level below that we feel comfortable selling at this point. Rallies should be selling opportunities on resistive candles above, as the downward pressure seems to be picking up in this particular market. Ultimately, if we can break down below the 0.70 level, the market should then reach towards the 0.68 handle.
EUR/GBP Forecast November 17, 2015, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
